MORTGAGE INTEREST RATE LOCK ADVISORY
May 30, 2014 8:00 AM PST
LOCK ADVISORY
7 Day Close Mortgage Interest Rate lock or Float Advice: LOCK
- The price for 3.50% Mortgage Loans based on MBS is currently up 0.04 point.
- Gold is down $50 this week which usually indicates a flight way from the safety of bonds.
- Stocks are up for the week, another indicator that rates should rise..
- MBS prices continue to move sideways at the top of a long term trading channel. It seems that we are pushing the rate envelope and locking is the safe bet when signals are mixed.
30 Day Close Mortgage Interest Rate Lock or Float Advice: LOCK
MORTGAGE MARKET INDICATORS
- FHLMC Average: 30-Yr Fixed Mortgage Rate, down 0.02% to 4.12% on May 29.
- MBS (3.5%) - Currently 102.87, High: 103.02, Low: 102.64
- DJI Stocks currently $16,678.45, Down $20.29, Change -0.122%
- Asian & European Stock Market Indexes changed 0.178%
- Crude Oil (WTI) Currently $102.85 - Change -0.7%
- Gold 1 Ounce - $1,246.79
MORTGAGE AND REAL ESTATE NEWS
Purchase Market Grows; Loans Take Less Time to Close
By: Krista Franks Brock - The purchase loan share of the mortgage originations market continues to grow, according to the latest data from Ellie Mae. In April, purchase loans made up 63 percent of originations, up from 60 percent a month earlier and significantly higher than 42 percent a year ago.The refinance share of the market, necessarily then, is declining, falling to 37 percent in April, according to Ellie Mae.>>Read More in MReport
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